Belgrade, Feb. 03, 2010, (Source: Beta, Tanjug) - The Interim Trade Agreement (ITA) between the EU and Serbia will officially come into force on Feb. 1. This was announced in Belgrade last week by chief of the EU Delegation in Serbia Vincent Degert. He told the press in Belgrade that the economic significance of a full implementation of the Interim Agreement is that Serbia will be more attractive for foreign investors, whereas its political importance lies in the fact that monitoring the progress will be relevant when the European Commission decides to consider Serbia's candidacy for EU membership.
"The implementing of the Interim Agreement paves Serbia's way to EU accession," Degert stressed. He added that the EU Committee and the Serbian government should have the first meeting for monitoring the implementation of the agreement between March 10 and 15.
According to Degert, the application of the Interim Agreement will contribute to the predictability of business operation conditions, companies' competitiveness, and the equalizing of conditions for all market participants. On Dec. 7, the EU unfroze the application of the Interim Trade Agreement with Serbia, which envisages gradual trade liberalization in the period of six years. The trade deal is a part of the Stabilization and Association Agreement (SAA), which remains suspended. Serbia has been unilaterally implementing ITA since early 2009.
Friday, February 5, 2010
Thursday, February 4, 2010
FlyNiki Airline will start flights to Belgrade
Belgrade, Feb. 01, 2010, (Serbia Today) - According to Belgrade daily “Vecernje Novosti” FlyNiki Airlines owned by famed Niki Lauda will start flying today on the route Belgrade – Vienna.
FlyNiki is the first low-cost airlines that received a license from the Serbian Government Agency of Civil Air Travel since the state parliament ratified the open air agreement. Asked what to expect from the Belgrade-Vienna route, Lauda said that in the first year, he hopes to break even. For about a year, we fly to new destinations without any income, but after that, the Belgrade line is expected to become profitable. Online reservations started several weeks ago and are going well,” Lauda said. He added that passengers from Serbia’s capital will be able to fly through Vienna with Niki to Zurich, Berlin, Hamburg, Hanover, Dusseldorf and Munich, as well as many other locations.
Lauda told daily Večernje novosti that his company has always made money, but that 2009 was the best year for the company thus far. The company's business achievements in 2009 will be made public in several weeks. FlyNiki was founded in 2003. Lauda owns 76 percent of the company, the rest is owned by Air Berlin. The company has a fleet of 12 planes and expects to have 17 by the end of 2010. The company will fly between Belgrade and Vienna six times a week. The promotional price of tickets is EUR 29 in one direction, including taxes, but the price increases as the date of the flight nears, so it is better to make reservations as early as possible. Passengers will also be served food and beverages and will not have to pay for luggage less than 20 kilograms in weight, which is something that most low-cost airlines do not offer.
FlyNiki is the first low-cost airlines that received a license from the Serbian Government Agency of Civil Air Travel since the state parliament ratified the open air agreement. Asked what to expect from the Belgrade-Vienna route, Lauda said that in the first year, he hopes to break even. For about a year, we fly to new destinations without any income, but after that, the Belgrade line is expected to become profitable. Online reservations started several weeks ago and are going well,” Lauda said. He added that passengers from Serbia’s capital will be able to fly through Vienna with Niki to Zurich, Berlin, Hamburg, Hanover, Dusseldorf and Munich, as well as many other locations.
Lauda told daily Večernje novosti that his company has always made money, but that 2009 was the best year for the company thus far. The company's business achievements in 2009 will be made public in several weeks. FlyNiki was founded in 2003. Lauda owns 76 percent of the company, the rest is owned by Air Berlin. The company has a fleet of 12 planes and expects to have 17 by the end of 2010. The company will fly between Belgrade and Vienna six times a week. The promotional price of tickets is EUR 29 in one direction, including taxes, but the price increases as the date of the flight nears, so it is better to make reservations as early as possible. Passengers will also be served food and beverages and will not have to pay for luggage less than 20 kilograms in weight, which is something that most low-cost airlines do not offer.
Wednesday, February 3, 2010
Oil transportation contract signed by Jadranski Naftovod and Petroleum Industry of Serbia
Belgrade, Jan. 29, 2010 (Serbia Today) - Stock company Jadranski Naftovod – JANAF (Adriatic Pipeline) informed the Zagreb Stock Exchange that it had signed the contract with the Petroleum Industry of Serbia (NIS) on transportation of oil in 2010 - regional economic portal Seebiz.eu announced and added that the value of the contract had not been revealed yet. Shortly after that news was announced, the value of the stocks of JANAF grew by 0.8%.
JANAF announced at the end of the last year that it wanted to raise the degree of exploitation of the existing gas pipeline and ensure the new markets, as well as that it would invest 2.9 billion HRK (about 560m USD) in the enlargement of storage capacities.
“The contract with NIS and two-direction transportation will contribute to realization of these plans to a great extent “said the people from JANAF.
JANAF is a stock company with the headquarters in Zagreb whose stocks are in the possession of Croatian Pension Insurance Institute (37%), HANDA (26%), INA (12%), Republic of Croatia (10%), Croatian Electric Power Company (5%), the Government Agency for Rehabilitation of Banks (4%), while the remaining stocks are owned by minor stockholders.
JANAF announced at the end of the last year that it wanted to raise the degree of exploitation of the existing gas pipeline and ensure the new markets, as well as that it would invest 2.9 billion HRK (about 560m USD) in the enlargement of storage capacities.
“The contract with NIS and two-direction transportation will contribute to realization of these plans to a great extent “said the people from JANAF.
JANAF is a stock company with the headquarters in Zagreb whose stocks are in the possession of Croatian Pension Insurance Institute (37%), HANDA (26%), INA (12%), Republic of Croatia (10%), Croatian Electric Power Company (5%), the Government Agency for Rehabilitation of Banks (4%), while the remaining stocks are owned by minor stockholders.
Tuesday, February 2, 2010
Feasibility of intermodal terminal in Free Zone Pirot to be studied
Belgrade, Jan. 26, 2010 (Serbia Today) - The Italian company “Logik” will study the feasibility of an intermodal transportation-logistics terminal to be located in the Free Zone Pirot. The contract for the study was signed by the CEO of Free Zone Pirot, Dragan Kostić; by the Mayor of Pirot, Vladan Vasić; and by a representative of “Logik,” Zeno de Agostino. The EUR 170,000 cost of the study will be financed mainly by European funds.
Free Zone Pirot is located alongside Corridor 10 in the vicinity of Corridor 8 and Corridor 4. If built, the 10ha complex within the Free Zone would consist of a container terminal, many warehouses and a terminal for reloading of goods from freight cars to trucks and other transportation, said Kostić. Agostino said his company was experienced in both the documentation and the construction of such centers. Vasić added that the project would position Pirot as the first transportation-logistics center in Serbia. “It would also improve the position of Pirot and the reputation it enjoys with investors who would have another big motive to come and invest in this town.”
Free Zone Pirot is located alongside Corridor 10 in the vicinity of Corridor 8 and Corridor 4. If built, the 10ha complex within the Free Zone would consist of a container terminal, many warehouses and a terminal for reloading of goods from freight cars to trucks and other transportation, said Kostić. Agostino said his company was experienced in both the documentation and the construction of such centers. Vasić added that the project would position Pirot as the first transportation-logistics center in Serbia. “It would also improve the position of Pirot and the reputation it enjoys with investors who would have another big motive to come and invest in this town.”
Monday, February 1, 2010
Closing of Money Exchange stores
Belgrade, Jan.25, 2010 (Serbia Today) - The National Bank of Serbia(NBS) announced on January 21, that by April 1st all the money exchange stores should be closed. Those operations and transactions will be fully transferred to commercial banks.
In mid-2006, when started running process of gradual withdrawal from the exchange operations, the participation of central banks in these operations was 80%, and banks involvement was 20%.
For the past three years the NBS has successively passed several measures that were aimed at banks and authorized dealers. Thanks to that, the reduced participation of the NBS in the performance of exchange operations resulted without negative effects on the Exchange and the total foreign exchange market, where Exchange operations still recorded a growing trend.
In January last year, the participation of the NBS in Exchange business was 19.3%. This percentage was reduced to 1.57% in October of the same year.
The National Bank of Serbia has enabled the conditions to discontinue the work of the authorized exchange offices, as a planned program of monetary policy for 2010. Date of termination is precisely April 1, 2010.
In mid-2006, when started running process of gradual withdrawal from the exchange operations, the participation of central banks in these operations was 80%, and banks involvement was 20%.
For the past three years the NBS has successively passed several measures that were aimed at banks and authorized dealers. Thanks to that, the reduced participation of the NBS in the performance of exchange operations resulted without negative effects on the Exchange and the total foreign exchange market, where Exchange operations still recorded a growing trend.
In January last year, the participation of the NBS in Exchange business was 19.3%. This percentage was reduced to 1.57% in October of the same year.
The National Bank of Serbia has enabled the conditions to discontinue the work of the authorized exchange offices, as a planned program of monetary policy for 2010. Date of termination is precisely April 1, 2010.
Wednesday, January 27, 2010
Dinar dropped by 7.6% against Euro in 2009
Belgrade, Jan. 24, 2010 (Serbia Today) - Dinar dropped by 7.6% against Euro in 2009 - the National Bank of Serbia announced today (January 18, 2010).
According to the announcement, Dinar dropped by 1.2% in December, while 1 billion EUR were traded in the interbanking foreign currency market, which is 570.6m EUR than in November. “ That was, also, record trading in 2009. Total of 7.1 billion EUR were realized in the interbanking trade last year “ - it is stated in the announcement by NBS.
In order to prevent excessive daily oscillations of the exchange rate and ensure undisturbed and efficient functioning of the financial market under the conditions of high Dinar liquidity of the banking sector, NBS organized two auctions in December and sold total of 100.5m EUR on those occasions.
According to the announcement, Dinar dropped by 1.2% in December, while 1 billion EUR were traded in the interbanking foreign currency market, which is 570.6m EUR than in November. “ That was, also, record trading in 2009. Total of 7.1 billion EUR were realized in the interbanking trade last year “ - it is stated in the announcement by NBS.
In order to prevent excessive daily oscillations of the exchange rate and ensure undisturbed and efficient functioning of the financial market under the conditions of high Dinar liquidity of the banking sector, NBS organized two auctions in December and sold total of 100.5m EUR on those occasions.
Monday, January 25, 2010
Zemun - Borča bridge closer to construction
Belgrade, Jan. 21, 2010, (Serbia Today) - Representatives of the Institute of Transportation CIP and China Road and Bridge Corporation will sign a preliminary contract today (January 18, 2010) for the design concept of the Zemun-Borča bridge and its connections. The new bridge across the Danube will be a regional link between Belgrade and South Banat and will connect Corridor 10 with Corridor 4 and Romania.
The document will be signed by General Director Milutin Ignjatovic and Director Yao Hajdong in the presence of Verica Kalanović, the Minister of National Investment Plan, Belgrade Mayor Dragan Đilas and Ren Ji, the Economic Adviser of the Embassy of People's Republic of China. Because of tits importance the City of Belgrade and the Republic of Serbia will participate cooperatively in this project.
The new bridge will be 1.5 km long, 29.10 meters wide and 22.8 meters high, with six traffic lanes and adjoining pedestrian-bicycle paths. Feeder roads and interchanges will be 21.6 km long. The new bridge will move freight traffic from Belgrade's core, and also enable development of the city on the other side of the river. The preliminary contract is worth EUR 1.9m, and will be completed in the next two months. The project is estimated to cost EUR 170m and to be completed by the end of 2013. Financing for the project will be provided by the Export-Import Bank of China in amount of about EUR200m, at 3% interest repaid over 15 years.
The document will be signed by General Director Milutin Ignjatovic and Director Yao Hajdong in the presence of Verica Kalanović, the Minister of National Investment Plan, Belgrade Mayor Dragan Đilas and Ren Ji, the Economic Adviser of the Embassy of People's Republic of China. Because of tits importance the City of Belgrade and the Republic of Serbia will participate cooperatively in this project.
The new bridge will be 1.5 km long, 29.10 meters wide and 22.8 meters high, with six traffic lanes and adjoining pedestrian-bicycle paths. Feeder roads and interchanges will be 21.6 km long. The new bridge will move freight traffic from Belgrade's core, and also enable development of the city on the other side of the river. The preliminary contract is worth EUR 1.9m, and will be completed in the next two months. The project is estimated to cost EUR 170m and to be completed by the end of 2013. Financing for the project will be provided by the Export-Import Bank of China in amount of about EUR200m, at 3% interest repaid over 15 years.
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